Official complaints about the UK banking sector to the Financial Ombudsman Service have surged to their highest level in 10 years, partly driven by professional claims management companies that the ombudsman is proposing to regulate.
The FOS reported in its annual data that 80,137 complaints were raised about banking and payment products in the financial year 2023/24, a 23 per cent increase from the the 61,995 complaints made to its resolution service in 2022/2023.
